The Federal Reserve’s non-existent 99-year charter set to expire in 2012

The claim that the Federal Reserve was given a 99-year charter set to expire in 2012 isn’t the only myth surrounding its creation.

There is also the myth that the Federal Reserve Act was passed during the Christmas break when most members of Congress were away. That isn’t true, and there is the official record showing the final vote in the Senate was 54-32 on December 18, 1913.

According to Section 4, part 2 of the Federal Reserve Act, 1913, it says of each of the 12 privately owned Federal Reserve Banks:

“To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law.“

Since the Federal Reserve Board’s site shows that all 12 original Federal Reserve Banks are still in operation, their 20-year charter must have been extended.

A 20-year charter was also granted to the First and Second Banks of the United States, and both had their charter terminated. Yes, there was a time when privately owned central banks had time-limited charters, and for good reason, due to the havoc they caused.

“Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law.“

Again, since the Federal Reserve Board’s site shows that shows that all 12 original Federal Reserve Banks are still in operation, this provision was either changed with some other time limit, or was never changed.

In fact, it was never changed, and, therefore, their charter doesn’t expire in 2012, and there was never a 99-year charter for the Federal Reserve.

CHAP. 191.-An Act To further amend the national banking laws and the Federal Reserve Act, and for other purposes.

Reserve banks.
Vol. 38, p. 254.
Continuance of succession.

44 stat. 1234

SEC. 18. That the second subdivision of the fourth paragraph of section 4 of the Federal Reserve Act be amended to read as follows: “Second. To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law.”

This amendment made on Feb. 27th, 1927 amended the 1913 Federal Reserve Act, section 4, that gave the Fed a 20 year charter a indefinite charter that runs forever until abolished by Congress.

There was NEVER any 99 or 100 year charter given. The original Act only gave 20 years and that was amended in 1927 to indefinite. For any such 99 year charter to even exist it would have had to of happened after Feb. 27th, 1927 which if that were even the case, then that 99 year charter would still be years away from expiring yet since such a 99 year charter would have had to begin sometime after Feb. 25, 1927. I have not found any such amendment that amended this change made on Feb. 25th, 1927 and appears there is no time limit on the fed’s charter and can only be abolished by an Act of Congress just as it states here in section 18. of the amendment passed by Congress on Feb. 25th, 1927.

The Charter itself used to be posted by The Governing Board on the FED website. It has been taken down and unfortunately I never downloaded or printed a copy. Why was it taken down? Because someone might read it? There is a Charter – I don’t recall if term length was mentioned or not – so there is no need for this discussion at all – if the Fed still allowed folks to see its Charter – but apparently they don’t.

It is clearly obvious this Mullins guy was wrong. It is written in section 4 of the 1913 Federal Reserve Act which clearly says:

“To have succession for a period of twenty years from its organization unless it is sooner dissolved by an Act of Congress, or unless its franchise becomes forfeited by some violation of law.“

Right there within the Act itself it clearly says they were given 20 years, not a 100 years.

Then in 1927 Congress amended this section 4 of the 1913 Federal Reserve Act to:

SEC. 18. That the second subdivision of the fourth paragraph of section 4 of the Federal Reserve Act be amended to read as follows: “Second. To have succession after the approval of this Act until dissolved by Act of Congress or until forfeiture of franchise for violation of law.”

This amendment did away with the 20 year charter giving the Federal Reserve an INDEFINITE charter that goes on forever until Congress passes an Act to abolish the Federal Reserve. The proof of this is all in the Acts of Congress in black ink on white paper.

I am not sure I agree with this article. The late Eustace Mullins said that there was a 100 year charter for the Federal Reserve. Mullins was an expert on the Federal Reserve. Furthermore, the Federal Reserve Act was put together in complete secrecy in 1910; it had to be. The Federal Reserve is the biggest criminal conspiracy ever put on the American people.

Gee, I went and asked the government about the secret vote it held to enact the charter of the Federal Reserve and they told me it wasn’t secret, and everything was passed according to lawful provisions. And I believe them.

I am still waiting for the tooth fairy to recover the canine under my pillow.